X Co$.$ acquired $80\%$ of Y Co$.$ on January $1,$ Year $3,$ when Y Co$.$ had common shares of $$140,000$ and retained earnings of $$74,000.$ The acquisition differential was allocated as follows on this date: Inventory$$64,000$Equipment $(15-$year life$)51,000$Total acquisition differential$$115,000$Since this date the following events have occurred: Year $3$Y Co$.$ reported a net income of $$134,000$ and paid dividends of $$29,000.$On July $3,$ X Co$.$ sold land to Y Co$.$ for $$120,000.$ This land was carried in the records of X Co$.$ at $$79,000.$On December $31,$ Year $3,$ the inventory of X Co$.$ contained an intercompany profit of $$34,000.$X Co$.$ reported a net income of $$440,000$ from its own operations. Year $4$Y Co$.$ reported a net loss of $$20,000$ and paid dividends of $$9,000.$Y Co$.$ sold the land that it purchased from X Co$.$ to an unrelated company for $$134,000.$On December $31,$ Year $4,$ the inventory of Y Co$.$ contained an intercompany profit of $$16,000.$X Co$.$ reported a net income from its own operations of $$76,000.$ Required:Assume a $40\%$ tax rate. $($a$)$ Prepare X Co$.$s equity method journal entries subsequent to the date of acquisition for each of Years $3$ and $4.($Input all values as positive numbers. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Input all values as positive numbers.$)$ Year $3$